{"id":86501,"date":"2023-11-02T11:47:07","date_gmt":"2023-11-02T09:47:07","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=86501"},"modified":"2025-09-13T05:59:53","modified_gmt":"2025-09-13T02:59:53","slug":"northern-data-to-secure-e575-million-debt-financing-from-tether","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/northern-data-to-secure-e575-million-debt-financing-from-tether\/","title":{"rendered":"Northern Data to secure \u20ac575 million debt financing from Tether"},"content":{"rendered":"<p>The German mining company Northern Data <a href=\"https:\/\/www.eqs-news.com\/news\/adhoc\/northern-data-ag-secures-eur-575-million-debt-financing-facility-to-drive-further-investments-across-its-three-business-lines\/1930351\">entered into<\/a> a debt-financing agreement with Tether for \u20ac575 million.<\/p>\n<p>The firm will primarily allocate the funds toward equipment for the Taiga Cloud division, which offers cloud computing services to generative AI projects in Europe.<\/p>\n<p>There are plans to expand data centres operating under the Ardent Data Centers brand.<\/p>\n<p>Finally, the company intends to use the financing to scale its Bitcoin mining operations using liquid-cooling technologies for its Peak Mining business.<\/p>\n<p>In September <a href=\"https:\/\/forklog.com\/en\/news\/what-is-tether-usdt\">issuer<\/a> of the stablecoin USDT <a href=\"https:\/\/forklog.com\/en\/news\/tether-bets-420m-on-nvidia-gpus\">spent $420 million<\/a> to buy 10,000 Nvidia H100 GPU chips. The GPUs became the consideration for a 20% stake in Northern Data.<\/p>\n<p>In May <a href=\"https:\/\/forklog.com\/en\/news\/paolo-ardoino-named-new-ceo-of-tether\">the then-CEO<\/a> of Tether, Paolo Ardoino (then CTO of the company), <a href=\"https:\/\/forklog.com\/en\/news\/not-just-usdt-tether-explores-new-lines-of-business\">stated<\/a> that the high profitability gives the firm the opportunity to invest in new business directions. One of <a href=\"https:\/\/forklog.com\/en\/news\/tether-to-earmark-up-to-15-of-profits-for-bitcoin-purchases\">the initiatives<\/a> was regular purchases of Bitcoin.<\/p>\n<p>In addition, Tether <a href=\"https:\/\/forklog.com\/en\/news\/tether-invests-1bn-in-bitcoin-mine-in-el-salvador\">participated<\/a> in financing the government-backed <a href=\"https:\/\/forklog.com\/en\/news\/el-salvador-to-build-a-241-mw-bitcoin-farm\">Volcano Energy<\/a> project, a $1 billion bitcoin mining venture in El Salvador.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The German mining company Northern Data has signed an agreement with Tether to obtain debt financing of \u20ac575 million.<\/p>\n","protected":false},"author":1,"featured_media":86502,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,52,1097,1245],"class_list":["post-86501","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-investments","tag-lending","tag-tether-usdt"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/86501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=86501"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/86501\/revisions"}],"predecessor-version":[{"id":86503,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/86501\/revisions\/86503"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/86502"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=86501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=86501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=86501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}